Funding for fuel saving technology company

July 1, 2009
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Swindon-based vehicle tracking and mobile working solutions company CMS SupaTrak has secured a further round of funding from the YFM Group managed South West Ventures Fund (SWVF).  The funding will allow CMS SupaTrak to develop its EcoTrak service.
This third round of funding will be used to build the sales pipeline for EcoTrak, a fuel saving technology which enables fleet operators to analyse and measure fuel usage, carbon emissions and driving style for the purpose of managing fuel costs.  The technology produces detailed reports on driver and vehicle management including miles per gallon, speed, revolutions per minute, engine load, idling time and time spent in cruise control – all of which have a major impact on fuel consumption.
Jason Airey, managing director of CMS SupaTrak said: “On average fuel can represent 30 per cent of a fleet’s total operating costs.  Driving style, mileage and type of vehicle can all affect a fleet’s overall fuel bill.  By understanding these factors and learning how to monitor and manage them, significant cost savings are being achieved.
“Our faith in our product has been endorsed by our ever increasing sales pipeline and the YFM Group investment which will help us to substantially grow our customer base and increase our sales force too.”
EcoTrak’s ability to reduce fuel costs and carbon emissions was highlighted at the national GreenFleet Awards 2008, where CMS SupaTrak was commended in two categories: Industry Innovation and IT/Communications Product of the Year.
CMS SupaTrak is also working with the Diamond Standard Carbon Exchange and verification of EcoTrak’s carbon monitoring and reduction technology is expected over the next few months.
Over the past few years the company has won several prestigious accounts including Birmingham City Council, Network Rail, Hampshire County Council and Royal Mail.
Julian Dennard, senior investment manager with YFM Group, managers of the South West Ventures Fund, said: “This latest investment into CMS SupaTrak is a sound opportunity to provide further financial backing to an experienced and visionary team with an exceptional product.
“This is an exciting sector with the potential to deliver incredible savings, efficiencies and new ways of working for businesses and staff.”
CMS SupaTrak also offers SupaTrak – a web-based vehicle and asset tracking solution – improving the security of goods and assets, enabling real time fleet visibility with updates every 60 seconds and JobTrak -  a job allocation and scheduling solution for mobile workers.

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